Bitstamp To Halt Trading Of Polygon, Chiliz And Other Altcoins: Is SEC To Blame?
Portfolio Pulse from Murtuza Merchant
Bitstamp, the oldest crypto exchange, will halt trading for a selection of altcoins for its US-based clientele. The affected digital assets include Axie Infinity (AXS), Chiliz (CHZ), Decentraland (MANA), Polygon (MATIC), NEAR Protocol (NEAR), The Sandbox (SAND), and Solana (SOL). The change will take effect from August 29. The move is speculated to be due to the US Securities and Exchange Commission's (SEC) recent actions, specifically labeling these tokens as unregistered securities in its legal challenges against Binance (BNB) and Coinbase (COIN).
August 09, 2023 | 4:36 pm
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Binance's BNB token may face negative impact due to SEC's recent actions.
The SEC's recent actions of labeling certain tokens as unregistered securities could lead to increased regulatory scrutiny for Binance, which could negatively impact the value of its BNB token in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 70
NEGATIVE IMPACT
Coinbase may face regulatory scrutiny as the SEC has labeled certain tokens as unregistered securities.
The SEC's recent actions of labeling certain tokens as unregistered securities could lead to increased regulatory scrutiny for Coinbase, which could negatively impact its stock price in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 70